In this episode, we will be discussing the KPIs (Key Performance Indicators) that are critical to the success of your business. Learning what to measure and knowing why it's important is all vital stuff. The knowledge, or the lack of it, can make or break your business.
You can reverse engineer figures such as the number of leads, how many leads you got, how many of those leads you got to book to come in and see you, and how many you closed, to give your team actionable steps and keep them on track.
Be clear about behaviors that can help your team understand what to do - ones that you know are going to lead to the numbers that you want. It’s going to help with client retention in a big way. To know more about how KPIs fit into the big picture, stay tuned.
Key Takeaways:
- Tracking the overall number of leads and their source (1:24)
- How many of those leads do you get to book to come in and see you? (4:04)
- Are you closing at least 20% of overall leads? What's the cost per lead? (7:54)
- A good KPI for a personal training biz for retention would be 3% a month (9:33)
- Then you start looking at lifetime value of the customer (11:36)
- The efficiency rate as percentage of sessions booked (14:13)
- The Big 5 customer uplifts: (21:04)
- 1. Completing a challenging workout
- 2. Achieving fitness goals
- 3. Fitness staff speaking to the customer
- 4. Encouragement from fitness staff
- 5. Reception staff speaking to the customer
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Additional Resources:
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